We have a short term rental in Estes Park, CO. After 26 years, we have decided to sell to our daughter.
We will sell for $700k and have accumulated depreciation of about $150k. She can put down $200k to $350k and we will carry the balance.
We figure we will have to pay all the depreciation recapture in year of sale. Without doing a 1031 exchange, are there any tax advantage or disadvantages that might be helpful to reduce or defer our tax liability? Thanks for any thoughts.
We will sell for $700k and have accumulated depreciation of about $150k. She can put down $200k to $350k and we will carry the balance.
We figure we will have to pay all the depreciation recapture in year of sale. Without doing a 1031 exchange, are there any tax advantage or disadvantages that might be helpful to reduce or defer our tax liability? Thanks for any thoughts.
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